Mplx (NYSE:MPLX) Hits New 52-Week High After Analyst Upgrade

Mplx Lp (NYSE:MPLX)’s share price hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $49.00 to $51.00. UBS Group currently has a buy rating on the stock. Mplx traded as high as $44.53 and last traded at $44.53, with a volume of 382103 shares changing hands. The stock had previously closed at $44.05.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Mplx in a report on Wednesday, August 28th. Finally, Barclays decreased their price objective on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Monday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.56.

Institutional Trading of Mplx

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC acquired a new position in shares of Mplx during the 1st quarter worth approximately $35,000. Pacifica Partners Inc. acquired a new position in Mplx during the 1st quarter worth about $41,000. Crewe Advisors LLC acquired a new position in Mplx during the 1st quarter worth about $41,000. Register Financial Advisors LLC acquired a new stake in Mplx in the 1st quarter valued at about $42,000. Finally, CWM LLC raised its position in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 451 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. The business has a 50-day simple moving average of $42.53 and a 200-day simple moving average of $41.63.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities analysts anticipate that Mplx Lp will post 4.24 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.70%. Mplx’s dividend payout ratio (DPR) is 87.63%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.